Leftist Ollanta Humala of Peru President signed three bills increasing taxes and royalties in the lucrative mining sector in the law Wednesday, marking the latest mining-related change in the law of the world’s No. 2 producer of copper and silver and the sixth largest gold producer.
And apart from the changing political landscape, strikes continue to pose a challenge for operators mine in Peru. On Thursday, a strike at Freeport McMoran’s (FCX.N) Cerro Verde mine strikes are followed earlier this month
and increasing profits led by miners employed in the mines from Chile to Indonesia to hold work stoppages and pressure for wage increases this year.
source:reuters
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